Business Accounting Software

Business accounting software is abundant. There are many different software companies that produce very good products to help businesses be productive and help supply useful information to manage the business.

Before desktop computers arrived in the 1980's most accounting was done with a pencil and a calculator. Then, with the beginning of the personal computer age, computer memory and processor speeds limited software development. However, this limited software was a tremendous leap from the manual accounting system.

Now, in recent years,computer memory and processing speeds seem to be almost limitless, and the software is now able to process huge amounts of data from a tremendous data reserve. Integration software which links the entire business enterprise and all its departments is now common.

Software can be categorized as follows:

  • Financial general ledger software
  • Manufacturing MRP software & ERP software
  • Spreadsheet software
  • Fixed asset software
  • Consolidation software
  • Tax software along with e-file options

Financial general ledger software is used in many businesses.  This software may have several modules for:
  • Accounts payable
  • Accounts receivable
  • General ledger
  • Payroll
  • May have other modules for fixed assets, etc
This software is used to capture all the financial information and then report it in the form of financial statements.

Business accounting software illustration Small business software is available for many types of business:
MRP software is used in manufacturing environments and includes more than just financial functions.  It also includes the materials functions, project accounting, etc. It is designed for all the operations of the manufacturing business. In non-manufacturing environments, this is often called ERP software, short for enterprise resource package.

Spreadsheet software such as Microsoft Excel is used to analyze data and produce reports.

Fixed asset software is used to track the assets of a company and creates information for depreciation costs. A good fixed asset policy is necessary and well as tracking method.

Consolidation software such as Hyperion is used to consolidate the financial information from several reporting business units.

Tax software is used by accounting firms to prepare individual and business taxes.